SafeMoon Swap Upgrade Transcript (March 22nd, 2022)

Updated: Mar 22

SafeMoon Global Head of Products, Ryan Arriaga
 


Hey, SafeMoon Army Ryan Arriaga here, your Global Head of Products for SafeMoon. I wanted to take this time to give you a rundown of what to expect from our Big Router Upgrade come March 22nd.


So let’s dive in!


Why do we need to upgrade the router?


As we grow, so do the requests for the expansion of our swap. One of those requests happens to be the new Cross-chain swap. Now building a cross-chain swap is a big undertaking, and in order to do so, this would require a whole new router that is “upgradeable.” Unfortunately, our current router is not upgradeable, so we will need to first upgrade this in order to implement the cross-chain swap you all have been asking for.

Version 1 (Multi-chain): Only capable of swapping tokens on one chain in a single transaction.  Version 2: (Cross-chain) Capable of swapping tokens across one chain to another in a single transaction.
Cross-chain v.s Multi-chain Swap | Version 1 (Multi-chain): Only capable of swapping tokens on one chain in a single transaction. Version 2: (Cross-chain) Capable of swapping tokens across one chain to another in a single transaction.

In addition to upgrading our swap, we are making it extremely flexible. So in the event we ever want to do future upgrades like this, it can be done quickly without requiring a big upgrade like this one. Lastly, our new upgraded swap will be able to safely serve as the “foundation” for other exciting SafeMoon products.

You see, currently, only our Wallet apps and web swap sit upon our swap version 1. However, to expand our ambitious product lines like the SafeMoon Ecosystem, SafeMoon Connect, and other exciting offerings, we will need a flexible and easily upgradeable swap to handle these ambitious plans.

If we were to skip this step and start building our other product offerings on our current swap version 1, then this change would not only impact our swap partners, but it would impact all other partners we obtain for our SafeMoon ecosystem and SafeMoon connect - in other words we would be taking on major technical debt and exposing ourselves to more risk. The main takeaway is now is the best time to upgrade our foundation for future scalability.



So here’s what to expect come March 22nd @ 10 AM MST.


Step 1. We will halt swap trading on our app for 48 hours or longer to give our swap partners the time they need to prepare.

A 48-hour downtime is projected but this can be extended depending on 3rd party partners & unforeseen issues. - Ryan Arriaga


Step 2. All swap partners will be working closely with our sales team to ensure they are removing liquidity from our current swap on March 22nd. This is integral to carrying out this upgrade quickly and seamlessly.


Step 3. To save time, we will then be submitting our new app update to both iOS and Android to take advantage of the downtime we have and ensure that a new app is already ready for review while we carry out this process.



Step 4. Once our final Swap partner removes liquidity from our current Swap (version 1), they will then begin the process of re-adding that liquidity to our new Swap Contract (version 2). This can take some time as everyone’s schedules are different, and there will be some guidance that will take place from both our sales and dev team to ensure all pairs are seeded properly.


We are anticipating this process will take 48 hours. However, because there is a lot of planning and moving parts with 3rd party companies, there is a chance that this could take longer than 48 hours - however, we are planning to the best of our ability and are hopeful that with the cooperation of all partners that we can carry this out quickly.


Step 5. After the last partner has seeded their pair in our new version 2 swap, we will then begin final QA and testing to ensure that swapping mechanisms are working properly for larger transaction amounts.


Although we have QA'd our swap on testnet and mainnet with small transactions, sometimes bugs can arise with larger transaction amounts. - Ryan

Step 6. Once we have QA’d these swap transactions and we feel we can safely deploy, we will then release our new version 2 working swap via our apps on iOS & Android in addition to our web swap so the SafeMoon community can resume trading with basic swaps like they were able to before.


📝Please note this deployment will not have a working multi-chain swap. We want to ensure our new swap router can first carry out the basic functions for swapping as it did before our upgrade. This is imperative to lock down before we move on to our next deployment - the cross-chain swap.



Step 7. After we have QA’d our new swap deployment and all functions for swapping work as they did in version 1, we will then prepare a new app for both iOS & Android that contains the functions necessary for carrying out a cross-chain swap.


Step 8. After our new cross-chain swap is deployed, we will continue to provide support for any bugs or issues as we improve the swap mechanisms (just as we did in version 1) to give you the best and most fastest swap in DeFi.



If you made it this far, please let this rundown serve as a keystone of information for yourself and share with others that may be in the dark or need to be informed about the entire swap upgrade process.


We understand that many in the SafeMoon army are pretty tech savvy and understand the space well; however, there are others out there that will need your help and support to stay informed and at ease as we continue to improve our product foundation and set ourselves up for exponential growth.


Thank you to all the holders out there for tuning in, and I hope this video serves as a valuable tool for all of you.


I am truly excited to see how far we have come, and this moment is a catalyst for our continued growth and the implementation of even larger product offerings.


With that said, I am Ryan Arriaga, Global Head of Products for SafeMoon - see you on the other side of history!

SafeMoon Global Head of Products Ryan Arriaga

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Disclaimer:

Please be advised this is meant to be used for informational and educational purposes only. All information should be used as such and not be treated as financial advice. Before making any financial decisions, it is important to complete your own due diligence. Thank you.

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